Do You Wonder Why You Do Not Have An Information Products Business?

It is certainly no secret that information products can be extremely lucrative if done right. The expression, information product empire, can accurately describe what some people have done with their info products. People love any kind of information that helps them achieve a goal or solves a problem. When you stop and think about it, this is not so unusual to find people who will pay to have their problems solved for them. You cannot just run out and do this because there are many things that must get done the right way. Here are three terrific reasons to begin an information product business as soon as possible.

You can actually turn your hobby or passion into an information product! Most people have subjects they’re very knowledgeable about or favorite hobbies that really interest them. You might be surprised how many hobbies can be turned into practical businesses. For example, let’s say you’re really good with computers and can troubleshoot various problems that come up. This isn’t something you’re paid to do, you just love tinkering with computers. Now many people would appreciate having this skill, so you could put this information into an e-book and you’d have an audience ready to buy it. Many different topics actually have target markets who would be interested in useful information. Not only can you make a success out of this, but it will be a labor of love, as you’re basing it on something you actually enjoy.

You can always renew your existing info products, ramp them up and sell them at a higher price. In fact, this is a favored method by many people, and they make even more money from it because it is priced higher. It is just a question of making something a little better and then using proper positioning.

When you hire a freelancer to write for you, all the content is an expense you pay once, and then you are free to go out and make money with it. You buy the content and then you can use it over and over for life. The profit margin with information products is notoriously high, and that is another part that makes it so attractive. This one reason alone is a proof that the info product business can give you huge returns for your one time investment. If you want to find something you can do and be successful with, then you need to consider information products business. It doesn’t matter even if you’re new to the whole info product business, as you move along you’ll realize how you can sell your products packaging them in various ways. You can start doing research today for good products to learn from, and that is a good idea to do.

Video Production Business Tips – The Future of Video Production Businesses

I typically try not to spend a lot of time looking into a crystal ball, but a coaching client of mine asked what I thought the video production business will look like in 5, 10 and 20 years. My insight is based on how I perceive the industry with regard to society, multimedia and technology. Here’s what I have to say.

Regarding the video business in the next 5 years, I think video overall is coming back full-force. Corporate video was very popular in the 80’s but started to die down pretty significantly in the 90’s due to the emergence of CD-ROM authoring and distribution capabilities. This is also when PowerPoint hit the scene heavily in the corporate presentation environment. In my opinion, now is a great time to start a video business and with proper marketing and sales strategies, you’ll be able to really flourish in the coming 5 years.

In 10 years, I believe that bandwidth will finally catch up with High-Definition (HD) camera quality (probably before then but definitely by 10 years). Full-resolution HD videos/films will be accessible on your laptop, phones, in your cars, everywhere! The thing to always remember though is that no matter what the technology is doing, you want to remain highly focused on content creation, or storytelling. There will always be a new technology and a new group of investors willing to dump millions or even billions into the technology.

Let the big boys spend all their money on the technology. Just get real proficient at learning new technologies as they come available. Then, teach your clients how you can help them adapt the new technologies in their communications strategies. I believe that no matter how much technology changes, there will still be a need for good video producers/storytellers. In 10 years, there will be more channels than compelling content.

It will be much easier to start your own television/web network and advertisers will have an unlimited supply of choices on where to run their advertisements. Niche markets/audiences will be the key to success in a decade. If you command a high percentage of a particular market segment, you’ll be able to develop channels with content that serves that market and make a nice income selling advertising space or member subscriptions.

Note:The tools to produce videos will get cheaper and cheaper every year so it is vitally important that you position your video production business and yourself as a producer who understands business/marketing/training communications… not just video production. You will need to focus heavily on the consultation part of the video business instead of just cameras and software. There will be people who buy gear and call themselves “pros” on a daily basis but the companies that stay focused on the “strategy level of thinking” when dealing with clients will prevail.

This has worked for me so I continue to stay positioned in this manner.

In 20 years… who knows? I’m sure that video will still be a profitable business but the technology will probably be out of this world in terms of what it can do. As I’ve stated before, no matter what the technology does, their will only be a small percentage of the population that will understand how to craft a compelling and effective message. Study the technologies over the years and figure out quickly how they apply to the video business and how your clients can use them to improve their communications.

I think in 20 years, video WILL be as common and necessary as having a website or email address is today. Instead of business cards, you’ll have a video card. Instead of a brochure, you’ll have a brochure with tiny chips that can show videos right on the paper.

The above comments were all related to the corporate video industry. How will the consumer video industry fare?

The short and probably best answer is that people will always get married, have birthday parties, and need family history videos. The point is that consumer video needs will never go away. Unlike business, video needs that ebb and flow with the economy, personal video needs are ALWAYS there. There isn’t as much money to be made serving consumers but the demand will always be there.

In fact, I can’t seem to shake the thought process of developing several consumer- related video businesses that serve this unending need. (Weddings, birthdays, college sports reels, etc.) There is a lot more competition in the consumer video industry because the videos are easier to produce and the client doesn’t have the same expectations as to quality as the business customer does. The key is to develop branded products that are easy for the customer to understand and afford. Then, promote them like there is no tomorrow!

I recommend looking at two parallel plans going forward.

Focus primarily on building a video service that develops business videos but also look at serving consumer needs. In the early years of your video production business, the consumer needs often pay the bills when the video business clients go missing in action. Plus, the consumer jobs pay faster.

Video Production Business Tips – High-Powered Marketing Tips For Videographers

In order to keep your marketing pipeline full with video project leads, you must create and execute a solid marketing strategy. Now, to some of you, just reading that last sentence raised your blood pressure a couple of notches and your head is starting to hurt. You don’t need to worry because there are small, incremental steps you can take to drastically improve your marketing efforts that won’t cause you to sleep any less than you already are.

Whether you are a one person video production company or a small firm with a few employees, it’s often VERY difficult to create and implement a consistent marketing strategy. Most of us think that if we are busy with projects, there is no time for marketing. Then, when there are no more projects, we worry about how to get more work so we desperately promote our services in an inefficient and often expensive manner.

The problem with this approach is unpredictable cash flow which makes it almost impossible to make intelligent growth decisions for your video production business.

What can you do to be consistent with your marketing no matter how busy you are?

The answer is to pick one marketing tactic and DO IT! No excuses! You must treat this marketing activity the same way you would treat a project paid hourly. You have to bill hours to get paid. So is it not fair to say that you have to market your video business in order to get more billable hours? Of course it’s fair to say that!

Okay, so what options do you have regarding marketing tactics for promoting your company?

Here are two that have worked exceptionally well for me:

1. Attend Chamber and Other Professional Association Networking Meetings

These usually meet over lunch or breakfast for an hour. Depending on where your office is, plan on this activity which takes about two hours out of your day. Plan to attend at least two of these per week. It will be money and time well spent. It is very important that you expand your network of contacts and this is the least expensive but most effective way to do so. The key to being successful with this tactic is that you MUST ATTEND THE MEETINGS. Work on your 30-second elevator speech and take a lot of business cards to each meeting.

2. Videotape and Edit Short Highlight Videos for Grand Openings or Non-Profit Fundraisers and Post Them On Your Website

This will take about 4 hours of your time to shoot/edit the videos and post them on your site. If you haven’t mastered the editing process, it may take you a bit longer. Show up to grand openings with your camera and videotape the festivities. Interview the business owner and put together a nice 60-90 second package. Send the link to the page on your website that contains the video to the business owner, the chamber and any other organization that may be interested in seeing the video. This will get your name out there in a hurry.

The same holds true for the non-profit fundraiser events. Call the event organizers ahead of time and offer to videotape and post the event video on your website as well as giving them a file they can post on their website. Ask if they have any sponsorship opportunities they can give you in exchange for your services. You are now getting headline sponsor exposure at the event and your name is getting out there every time someone watches the video. Also, be sure you put a short commercial for your company at the beginning of every free video you produce.

There are numerous tactics you can implement in your own marketing strategy. If you aren’t used to marketing on a regular basis, I strongly recommend that you choose one tactic and commit to it for a period of six months. At the end of six months, evaluate your success. Make adjustments if necessary and go at it for another six months.

Since you are most likely a small company with limited resources, the key is to be consistent with one tactic over a long period of time. Attempting several tactics will overwhelm you and won’t give you the results you need to grow your video business.

Choose the tactic that you feel works best for your video production business and DO IT! Be consistent, disciplined and remember that slow and steady will eventually win the race. Or in your case, a slow and steady marketing effort will result in a steady and possibly a drastic increase in revenue.

The process of creating an innovative product business plan can be quite daunting. This is mainly due to the enormous process one has to undertake, coupled with the tough competition you have to go through once you release your product into the market. In order for you to be successful, you are required to carry out some extensive research, which will enable you to better understand your products competition and value to the customer. Other than the afore mentioned factors, it is also important for you to clearly set out your objectives and actions.

There are a number of tips for creating an innovative product business plan and they include:

– Creating a tactical plan

You are required to clearly formulate and to write down your expected profit and loss numbers. This is what makes up the first step of any tactical business plan. One of the main benefits of coming up with a good product business plan includes the fact that it allows you to be aware of your total start-up costs, as well as your marketing strategy. Failure to come up with the estimated figures will hinder you from working as effectively as possible, thereby preventing you from achieving your set goals in a timely manner.

– Doing Extensive research

Before you decide to introduce any product into the market, it is important for you to carry out some extensive research in that products niche. From the research carried out, you will become fully aware of the products viability within a targeted market. Carefully look through the demographics in order to select the right product for your business. Pay close attention to those products which fit into what your talents, education, and interests have been up to this time. Is there a product which you have been wanting to see on the market, that could be of value to the masses, but which has so far not been manufactured? Is this product something which you could design and bring to fruition? Will it have value, and yet be a bargain so that many will be able to afford to purchase it? If possible, choose a consumable product, one which is used in day to day life, and which will be purchased repeatedly within weeks or months of the original purchase. It was the great American industrialist, John Paul Getty, who stressed the importance of finding, then marketing, products which are continually consumed and replaced.

– Undergoing adequate training

This is one of the most important tips for creating an innovative product business plan. The reason being that by receiving adequate training from distinguished experts, you will be able to come up with a good business plan that is completely free from any miscalculations. You can also hire a business consultant who will be able to share with you effective tips for creating an innovative product business plan. As long as you know that it takes time, work, and especially tenacity to bring a new product into the market place, then you can have the success you have been looking for. Often times it takes some trial and error and failure, but with a good foundation of planning, research, innovation, and training the future rewards will be worth it.